Question : 1.3   The Method of Economics 1) Better insurance benefits increase the : 1381021

 

1.3   The Method of Economics

 

1) Better insurance benefits increase the incentive of some individuals to work. This statement is best described as

A) a positive statement.

B) an example of the ceteris paribus assumption.

C) a normative statement.

D) a comparative economics statement.

2) The government should extend the duration of unemployment benefits to those workers who lost their jobs due to outsourcing. This statement is best described as

A) an example of marginalism.

B) an example of the fallacy of composition.

C) a normative statement.

D) a positive statement.

3) The amount of education that one has is an important factor in the determination of his or her wage rate. This is best described as

A) a positive statement.

B) an example of the fallacy of composition.

C) a normative statement.

D) an example of marginalism.

4) The cost involved when choosing between alternatives is known as the

A) marginal cost.

B) sunk cost.

C) opportunity cost.

D) normative cost.

5) Positive economics is an approach to economics that

A) seeks to understand behavior and the operation of systems while making judgments about their usefulness to society.

B) analyzes outcomes of economic behavior, evaluates them as good or bad, and may prescribe preferred courses of action.

C) seeks to understand behavior and the operation of systems without making judgments.

D) examines the role of government in the economy.

6) Normative economics is an approach to economics that

A) seeks to understand behavior and the operation of systems without making judgments.

B) analyzes outcomes of economic behavior, evaluates them as good or bad, and may prescribe preferred courses of action.

C) applies statistical techniques and data to economic problems.

D) examines the role of government in the economy.

7) Which of the following is a normative question?

A) Why do gasoline prices increase between Memorial Day and Labor Day?

B) What will happen to gasoline consumption if the federal tax on gasoline is eliminated?

C) To reduce the regressive nature of the gasoline excise tax, should the portion of the gasoline excise tax paid by high-income individuals be increased?

D) How will oil exploration be affected if the government subsidizes oil producers?

8) Which of the following is a positive question?

A) Will the level of teenage unemployment increase if the minimum wage is increased?

B) Should the minimum wage be set at one-half the average manufacturing wage to guarantee individuals a decent standard of living?

C) Wouldn’t it be more equitable if the minimum wage increased automatically with the cost of living?

D) Wouldn’t it be better to try to increase people’s wages through job-training programs rather than by requiring employers to pay minimum wages?

9) Health insurance should be provided to every citizen in a wealthy nation such as the United States. This statement is best described as

A) a positive statement.

B) a normative statement.

C) a marginal statement.

D) an implication of an efficient market.

10) There is great concern over the fact that millions of Americans do not have health insurance. A study of the costs and benefits of implementing a national health-insurance program is an example of

A) laissez-faire economics.

B) positive economics.

C) labor economics.

D) normative economics.

11) A measure that can change from observation to observation is known as a(n)

A) empirical measure.

B) model.

C) causality.

D) variable.

12) A formal statement of a theory is known as a(n)

A) model.

B) positive statement.

C) empirical measure.

D) causal statement.

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more